In 2024, Hongfa Technology completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Hongfa Technology has also provided a category-level breakdown for 11 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 |
|---|---|---|
Total Scope 1 | 9,187.194a | 33,566a |
Total Scope 2 | ||
Unspecified Calculation Method | 140,257.516a | 159,029a |
Total Scope 3 | 1,482,958.665a | N/A |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 4.7544a | 18.4499a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Hongfa Technology amounted to 149,444.71 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Hongfa Technology decreased by 22.4%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Hongfa Technology were 9,187.194 metric tons of CO₂ equivalent (tCO₂e).a
Compared to the previous year (2023), Hongfa Technology's Scope 1 emissions decreased by 72.63%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Hongfa Technology reported Scope 2 greenhouse gas (GHG) emissions of 140,257.516 tCO₂e without specifying the calculation method.a
Compared to the previous year (2023), Hongfa Technology's Scope 2 emissions (Unspecified Calculation Method) fell by 11.8% in 2024, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption.a
In 2024, Hongfa Technology reported its Scope 2 emissions using an unspecified methodology.a
In 2024, Hongfa Technology reported 1,482,958.665 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Hongfa Technology includes a breakdown across 11 of the 15 Scope 3 categories defined by the GHG Protocol, up from 0 in 2023, reflecting improved emissions accounting practices and greater transparency across the company's value chaina
In 2024, Hongfa Technology reported total Scope 3 emissions of 1,482,958.665 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 33.43% of these emissions originated from upstream activities such as purchased goods and capital goods, while 66.57% came from downstream activities like product use, distribution, and end-of-life treatment.a
In 2024, Hongfa Technology reported emissions for 11 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This reflects a high level of granularity and transparency in the company's emissions reporting.
In 2024, the largest contributors to Hongfa Technology's Scope 3 emissions were:a
In 2024, Hongfa Technology reported Scope 1 greenhouse gas (GHG) emissions of 9,187.194 tCO₂e and total revenues of USD 1,932 millions. This translates into an emissions intensity of 4.75 tCO₂e per millions USD.a
In 2024, Hongfa Technology reported a Scope 1 emissions intensity of 4.75 tCO₂e per millions USD. Compared to the peer group median of 1.8, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Hongfa Technology ranked 18 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Hongfa Technology is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Hongfa Technology reported a total carbon footprint of 1,632,403.375 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 747.58% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Hongfa Technology's total carbon footprint was Scope 3 emissions, accounting for 90.85% of the company's total carbon footprint, followed by Scope 2 emissions at 8.59%.a